Canada Forecasts Modest Retail Sales

Economists are expecting an increase in January’s Canadian inflation rate later this week, and for figures to show that retail sales ended 2016 on a mixed note, CBC reported. The report on the consumer price index will come Friday, two days after Statistics Canada reports on December retail activity. Canada’s economy added 48,000 jobs in January. The consensus forecast of economists is that the year-end retail sales report will show a 0.2% month-over-month increase. Factoring out auto sales, observers expect the report will show a bigger gain of 0.8%.